LG&P-backed SoulCycle Files for IPO

August 03, 2015

Share:

Leonard Green & Partners-backed SoulCycle has tapped investment bankers and filed for an IPO. Opening its first location in 2006, SoulCycle is an operator of cycle studios designed to inspire riders and provide a meditative fitness experience in place of traditional fitness and exercise structures. Riders are engaged in curated cardio-intensive sessions that last between 35 to 45 minutes and are led by experienced instructors; carefully crafted musical playlists are also essential to the company's strategy to engage riders. As of March 31, the company had over 300,000 unique riders across 38 studios in the U.S. It generated $25.3 million in net income on revenues of just shy of $94 million in 2014.